Tanager Wealth Management Reduces Amazon Stake Amid Mixed Institutional Activity

Tanager Wealth Management LLP reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 9.8% during the second quarter, selling 2,201 shares to bring its total holdings to 20,252 shares, valued at $4,827,000. Despite this reduction, other institutional investors significantly increased their positions in Amazon. Ameritas Advisory Services LLC boosted its stake by 78.0%, now owning 144,432 shares worth $34,424,000. Varenne Capital Partners saw the largest increase, growing its holdings by 398.8% to 61,050 shares valued at $14,540,000.

Amazon's stock has seen mixed movements, opening at $251.40 on Tuesday. The company reported strong earnings for the second quarter, with $5.75 earnings per share, exceeding analyst estimates by $3.93. Revenue reached $200.61 billion, up 19.6% year-over-year. Institutional investors and hedge funds collectively own 72.20% of the company's stock, reflecting significant confidence in the e-commerce giant.

Analysts remain bullish on Amazon, with TD Cowen reaffirming its Buy rating and raising its price target to $350. Other analysts, including those from Morgan Stanley and Barclays, have also set ambitious price targets, highlighting the company's growth potential. However, concerns persist about the financial burden of AI infrastructure spending and potential margin pressures.

Insider activity includes SVP David Zapolsky selling 9,258 shares for $2,404,950.66 and CEO Douglas Herrington selling 6,362 shares for $1,647,821.62, both under pre-arranged trading plans. Despite these sales, insiders still own 8.90% of the company's stock, indicating continued long-term confidence.